I have seen the Broadway production (that ran all of three weeks) and one other semi-professional production.
I remember feeling after the Broadway show that all of the women's material was better than all of the men's--that the best scene for a man wasn't as good as the worst for a woman. It is also a variation of the monologues-and-song format that had been precedent-setting and made famous by A Chorus Line two seasons before. The production was over-produced and lost a bundle.
The other production used a near bare stage with very few props. They didn't have a big budget and used only the basic lighting instruments that they had and costumes that were pulled. The audience could concentrate on the show and the material and not oooh and aaah when a firetruck backed up onto the stage for instance.
The show does lack focus, a precise raison d'etre. This doesn't mean that it cannot be entertaining, funny and in the end moving.
One of the many reasons it is selected is that it is easy to rehearse. The whole cast doesn't need to be there all the time.
"If my life weren't funny, it would just be true. And that would be unacceptable."
--Carrie Fisher